CandleFocus Things Started to Get Interesting in the Bybit Hack Incident: North Korean Hackers Launch Memecoin
2025-02-23
Author: Content Editor
The recent Bybit hack, which resulted in the theft of $1.5 billion worth of Ethereum (ETH), took an unexpected turn when the attacker laundered the stolen funds through memecoins on PumpFun. Cryptocurrency detective ZachXBT discovered that the attacker transferred 60 SOL to another address and launched a memecoin called QinShihuang, which achieved a trading volume of over $26 million. The attacker then moved the funds across multiple blockchain networks, making it difficult to trace. Some of the addresses involved were scrubbed by memecoin scammers, further complicating tracking efforts. PumpFun has taken action to prevent further illegal activity by removing the related memecoin from its platform.
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